2008 Outlook

With looming recession in both our country’s major trading partners – US and Japan – the economic outlook for 2008 appears dim.

But I do not believe such a case for Davao City. The city has shown its resilience in the past, for instance, during the Asian financial crisis ten years ago. It continued to grow in spite of slowdown in the region and in the country.

I see a particular good year for the city especially with the rising boom in property development. Among the lined up projects for this year are the Ayala-Floirendo joint venture mixed use development of 10 hectares in front of Redemptorist Church, Filinvest’s housing and condo projects, Consunji’s second and bigger condo project and other property development, Robinson’s new housing project, and possibly SM and NCCC finally going into building call center facilities.

The city’s other good prospects are in agribusiness, tourism and ICT.

(6:12 p.m.)

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